Issues

Stage Details

Legislation -
Signed
(Executive)
-
March 16, 2007

Legislation -
Bill Passed
(Senate)
(21-8) -
March 15, 2007(Key vote)

Title: Oregon Rainy Day Fund

Vote Result

Yea Votes

Nay Votes

Vote Smart's Synopsis:

Vote to pass a bill that establishes a Rainy Day Fund.

Highlights:

- Requires three-fifths of the Legislative Assembly to approve use of the Rainy Day Fund [sec.1(2)].
- Prohibits the Legislative Assembly from using more than two-thirds of the Rainy Day Fund [sec.1(4)].
- Expects that there will be an increase in revenues from corporate income and excise taxes for the amount of $975 million starting July 1, 2005 [sec.2].
- Distributes revenue collected from increased corporate and excise taxes between the General Fund and the Oregon Rainy Day Fund [sec.3(2)].

Legislation -
Bill Passed
(House)
(47-9) -
March 8, 2007(Key vote)

Title: Oregon Rainy Day Fund

Vote Result

Yea Votes

Nay Votes

Vote Smart's Synopsis:

Vote to pass a bill that establishes a Rainy Day Fund.

Highlights:

- Requires three-fifths of the Legislative Assembly to approve use of the Rainy Day Fund [sec.1(2)].
- Prohibits the Legislative Assembly from using more than two-thirds of the Rainy Day Fund [sec.1(4)].
- Expects that there will be an increase in revenues from corporate income and excise taxes for the amount of $975 million starting July 1, 2005 [sec.2].
- Distributes revenue collected from increased corporate and excise taxes between the General Fund and the Oregon Rainy Day Fund [sec.3(2)].